Current Terms of
Business
TERMS AND CONDITIONS OF BUSINESS – 1 June 2022
The
following Terms of Business apply to all engagements accepted by HardingRedmans
Limited. All work is carried out under
these terms except where changes are expressly agreed in writing.
1.0 Professional
rules and practice guidelines
1.1 We will
observe the bye-laws, regulations and ethical guidelines of the Association of
Accounting Technicians and accept instructions to provide services to you on
the basis that we will act in accordance with them. You are responsible for
bringing to our attention any errors, omissions or inaccuracies in your returns
that you become aware of after the returns have been submitted in order that we
may assist you to make a voluntary disclosure.
1.2 In
particular, you give us the authority to correct errors made by HMRC where we
become aware of them. In addition, we will not undertake tax planning which
breaches Professional Conduct in Relation to Taxation. We will therefore comply
with the general anti-abuse rule and the targeted anti-avoidance rule. We will
not be liable for any loss, damage or cost arising from our compliance with
statutory or regulatory obligations. You can see copies of these requirements
at our offices. The requirements are also available online at www.aat.org.uk.
1.3 The
implications of professional body membership as it relates to GDPR are set out
in the privacy notice, which should be read alongside these standard terms and
conditions of business.
2.0 Investment
advice
2.1 Investment
business is regulated by the Financial Services and Markets Act 2000. If during
the provision of professional services to you, you need advice on investments,
we may have to refer you to someone who is authorised by the Financial Conduct Authority
or licensed by a designated professional body as we are not authorised to give
such advice.
3.0 Referral
to a Permitted Third Party (
3.1. Should you
require advice on investment business we can introduce you to a suitable PTP. We
are unable to give advice as we are not authorised by the Financial Conduct
Authority.
3.2 The PTP will
issue you with his own terms and conditions letter, will be remunerated
separately for their services and will take full responsibility for compliance with
the requirements of the Financial Services and Markets Act 2000. We will act as
introducers but would be pleased to comment on, or explain any advice received and
if required attend any meetings with you.
3.3 We will
inform you when any introductory fee or commission is received and agree with
you how this is to be dealt with at that time.
The income received by that firm in respect of advice given to you will
be advised to you by the PTP directly.
4.0 Commissions
or other benefits
4.1 In some circumstances
we may receive commissions or other benefits for introductions to other
professionals or transactions we arrange for you. In this case we will notify you in writing of
the amount, the terms of payment and receipt of any such commissions or benefits.
5.0 Clients’
money regulations
5.1 We may, from
time to time, hold money on your behalf.
The money will be held in trust in a client bank account, which is
segregated from the firm's funds. The
account will be operated, and all funds dealt with, in accordance with the
Clients' Money Regulations of the Association of Accounting Technicians.
5.2 All client
monies will be held in an interest-bearing account. To avoid excessive administration, interest
will only be paid to you where the amount earned on the balances held on your
behalf in any calendar year exceeds £25.00.
If the total sum of money held on your behalf is enough to give rise to
a significant amount of interest or is likely to do so, then we will put the
money in a designated interest-bearing client bank account and pay the interest
to you. Subject to any tax legislation,
interest will be paid gross.
6.0 Money
Laundering Reporting
6.1 The provision
of audit, accountancy or tax services is a business in the regulated sector
under the Criminal Finances Act 2017 and, as such, directors and staff in firms
are required to report all knowledge or suspicion, or reasonable grounds to
know or suspect, that a criminal offence giving rise to any direct or indirect
benefit from criminal conduct has been committed, regardless of whether that
offence has been committed by their client or a third party. If as part of our normal accountancy or tax
work we have knowledge or suspicion, or have reasonable grounds to know or
suspect, that such offences have been committed, we are required to make a
report to the National Crime Agency (NCA).
In such circumstances it is not our practice to discuss such reports
with you because of the restrictions imposed by the tipping off provisions to
the anti-money laundering legislation.
7.0 Retention
of records and Papers
7.1 During our
work we will collect information from you and others acting on your behalf and
will return any original documents to you following preparation of your Tax
Return. You should retain them for six
years from the 31 January following the end of the tax year. You should retain them for longer if HM
Revenue & Customs enquire into your Tax Return.
7.2 Whilst
certain documents may legally belong to you, unless you tell us not to, we
intend to destroy correspondence and other papers that are more than seven
years old, except documents we think may be of continuing significance. You must tell us if you wish us to keep any
document for any longer period.
7.3 You have a
legal responsibility to retain documents and records relevant to your tax affairs.
During the course of our work we may collect information from you and others
relevant to your tax affairs. We will return any original documents to you, if
requested.
7.4 When we cease
to act for you we will seek to agree the position on access to cloud-accounting
records to ensure continuity of service. This may require you to enter direct
engagements with the software providers and pay for that service separately.
Documents and records relevant to your tax affairs are required by law to be
retained as follows:
Individuals, trustees and partnerships
·
with trading or rental income: five years and 10
months after the end of the tax year;
·
otherwise: 22 months
after the end of the tax year.
Companies, LLPs and other corporate entities
·
six years from the end
of the accounting period.
7.5 While certain
documents may legally belong to you, we may destroy correspondence and other
papers that we store, electronically or otherwise, which are more than seven
years old. This includes your documents if they have not been reclaimed by you
within the seven-year period. You must tell us if you require the return of any
specific document or their retention for a longer period.
7.6 You should
retain documents that are sent to you by us as set out in the privacy notice,
which should be read alongside these terms and conditions.
8.0 Conflicts
of interest and independence
8.1 We reserve
the right during our engagement with you to deliver services to other clients
whose interests might compete with yours or are or may be adverse to yours,
subject to 9 below. We confirm that we
will notify you immediately should we become aware of any conflict of interest
involving us and affecting you.
9.0 Confidentiality
9.1 We confirm
that where you give us confidential information, we shall at all times keep it
confidential, except as required by law or as provided for in regulatory, ethical
or other professional statements relevant to our engagement. We shall take all reasonable
steps not to disclose your information except where we are required to and as
set out in our privacy notice. Unless we are authorised by you to disclose
information on your behalf, this undertaking will apply during and after this
engagement. We may, on occasions, subcontract work on your affairs to other tax
or accounting professionals. The subcontractors will be bound by our client
confidentiality and security terms.
10.0 Data
Protection Act 2018 and General Data Protection Regulations
10.1 To enable us
to discharge the services agreed under our engagement, and for other related
purposes including updating and enhancing client records, analysis for management
purposes and statutory returns, crime prevention and legal and regulatory
compliance, we may obtain, use, process and disclose personal data about
you. We
confirm when processing data on your behalf we will comply with the relevant
provisions of the Data Protection Act 2018 and General Data Protection
Regulations. You acknowledge that we will act in accordance with the
privacy notice we have supplied to you.
11.0 Client
Identification
11.1 As with other
professional services firms, we are required to identify our clients for the
purposes of the
12.0 Quality
control
12.1 As part of our
ongoing commitment to providing a quality service, our files are periodically
reviewed by an independent regulatory or quality control body. These reviewers are highly experienced and
professional people and, of course, are bound by the same rules for
confidentiality as our principal and staff.
13.0 Help us
give you the best service
13.1 We wish to always
provide a high quality of service. If at
any time you would like to discuss with us how we could improve our service, or
if you are dissatisfied with the service you are receiving, please let us know
by contacting M A Haigh.
13.2 We will investigate
any complaint carefully and promptly and do all we can to explain the position
to you. If we have given you a less than
satisfactory service, we undertake to do everything reasonable to put it
right. If you are still not satisfied,
you may of course refer the matter to our Association.
14.0 Contracts
(Rights of Third Parties) Act 1999
14.1 Only someone
who is a party to this agreement has the right under the Contracts (Rights of
Third Parties) Act 1999 to enforce any of its terms. This clause does not affect any right or
remedy that exists independently of the Act.
14.2 The advice we
give you is for your sole use and is confidential to you and will not
constitute advice for any third party to whom you may communicate it. We will accept no responsibility to third
parties for any aspect of our professional services or work that is made
available to them.
15.0 Fees
15.1 Our fees are
computed by reference to time spent on your affairs by principal and staff, and
on the levels of skill and responsibility involved. Our fees will be billed at appropriate
intervals throughout the year and will be due within 14 days of the date of the
fee invoice. Please settle our fee
invoices promptly. You will appreciate
that if a fee invoice remains unpaid, we may decline to carry out any further
work on your behalf, at which point the full value of work in progress will be
billed. We reserve the right to charge
interest at 2% per month on any balance remaining unpaid after 14 days. If you have any queries on fee invoices,
please raise them promptly.
15.3 In some cases,
you may be entitled to assistance with your professional fees, particularly in relation
to any investigation into your tax affairs by HMRC. Assistance may be provided
through insurance policies you hold or via membership of a professional or
trade body. Other than where such insurance was arranged through us, you will
need to advise us of any such insurance cover that you have. You will remain
liable for our fees regardless of whether all or part are liable to be paid by
your insurers.
15.2 If we need to
do work outside the responsibilities outlined in our engagement letter, we will
advise you in advance. This will involve
additional fees.
16.0 Professional
Indemnity Insurance
16.1 In accordance
with our professional body rules, we are required to hold professional
indemnity insurance. Details about the insurer and coverage can be found at our
offices or by request from us.
17.0 Applicable
law
17.1 Our engagement
with you is governed by, and interpreted in accordance with, English law. The Courts of England shall have exclusive
jurisdiction in relation to any claim, dispute or difference concerning our
engagement letter and terms of business and any matter arising from or under
them. Each party irrevocably waives any
right it may have to object to any action being brought in those courts, to
claim that the action has been brought in an inconvenient forum, or to claim
that those courts do not have jurisdiction.
18.0 Alternate
arrangements
18.1 Please note that we have arrangements in
place for an alternate to deal with matters in the event of permanent
incapacity or illness. This provides protection to you if we cannot act on your
behalf, and in signing the letter of engagement you agree to the alternate
having access to all of the information we hold in order to make initial contact
with you and agree the work to be undertaken during the period of incapacity.
You can choose to appoint another agent at that stage if you wish.
19.0 Disengagement
19.1 Should we resign or be requested to
resign we will normally issue a disengagement letter to ensure that our
respective responsibilities are clear.
19.2 Should we have
no contact with you for a period of 2 years or more, we may issue to your last known
address a disengagement letter and thereafter cease to act.
19.3 We reserve the
right following termination for any reason to destroy any of your documents
that we have not been able to return to you after a period of six months unless
other laws or regulations require otherwise.
20.0 Electronic
and other communication
20.1 As instructed,
we will communicate with you and with any third parties you instruct us to as
set out in our privacy notice via email or by other electronic means. The
recipient is responsible for virus-checking emails and any attachments.
20.2 With
electronic communication there is a risk of non-receipt, delayed receipt,
inadvertent misdirection or interception by third parties. We use virus-scanning
software to reduce the risk of viruses and similar damaging items being
transmitted through emails or electronic storage devices. However, electronic
communication is not totally secure and we cannot be held responsible for
damage or loss caused by viruses, nor for communications that are corrupted or
altered after despatch. Nor can we accept any liability for problems or
accidental errors relating to this means of communication, especially in
relation to commercially sensitive material. These are risks you must accept in
return for greater efficiency and lower costs. If you do not wish to accept
these risks, please let us know and we will communicate by hard copy, other
than where electronic submission is mandatory.
20.3 Any
communication by us with you sent through the post is deemed to arrive at your
postal address two working days after the day that the document was sent.
20.4 When accessing
information held electronically by HMRC, we may have access to more information
than we need and will only access records reasonably required to carry out the
contract.
20.5 You are
required to keep us up to date with accurate contact details at all times. This
is important to ensure that communications and papers are not sent to the
incorrect address.
21.0 Implementation
21.1 We will only
assist with implementation of our advice if specifically instructed and agreed
in writing.
22.0 Intellectual property rights
22.1 We will retain
all copyright in any document prepared by us during the course of carrying out
the engagement save where the law specifically provides otherwise
23.0 Internal disputes within a client
23.1 If we become
aware of a dispute between the parties who own or are in some way involved in
the ownership and management of a business client, it should be noted that
where our client is the business, we would not provide information or services
to one party without the express knowledge and permission of all parties.
Unless otherwise agreed by all parties we will continue to supply information
to the registered office/normal place of business for the attention of the directors/proprietors.
If conflicting advice, information or instructions are received from different
directors/principals in the business, we will refer the matter back to the
board of directors/the partnership/the LLP and take no further action until the
board/partnership/LLP has agreed the action to be taken.
24.0 Period of engagement and
termination
24.1 Unless
otherwise agreed in the engagement letter our work will begin when we receive
your implicit or explicit acceptance of that letter, except as stated in that
letter we will not be responsible for periods before that date.
24.2 Each of us may
terminate this agreement by giving not less than 21 days’ notice in writing to
the other party, except where you fail to cooperate with us or we have reason
to believe that you have provided us or HMRC with misleading information, in
which case we may terminate this agreement immediately. Termination will be
without prejudice to any rights that may have accrued to either of us prior to
termination.
24.3 In the event
of termination of this contract, we will endeavour to agree with you the
arrangements for the completion of work in progress at that time, unless we are
required for legal or regulatory reasons to cease work immediately. In that
event, we shall not be required to carry out further work and shall not be
responsible or liable for any consequences arising from termination.
24.4 If you engage
us for a one-off piece of work (for example advice on a one-off transaction or
preparation of a tax return for one year only) the engagement ceases as soon as
that work is completed. The date of
completion of the work is taken to be the termination date and we owe you no
duties and we will not undertake further work beyond that date.
24.5 Where
recurring work is provided (for example ongoing compliance work such as the
completion of annual tax returns) the engagement ceases on the relevant date in
relation to the termination as set out above.
Unless immediate termination applies, in practice this means that the
relevant termination date is:
·
21 days after the date of notice of termination;
or
·
A later agreed date
24.6 We owe you no duties beyond the date of termination and will not undertake any further work.
